Updates, advisories and surprises

(4:36 PM ET) SAN FRANCISCO (MarketWatch) - Dell Inc.
DELL
saw a dramatic shift in demand in emerging markets, particularly in the so-called BRIC countries where the company saw a 15% decline in sales, the company's Chief Financial Officer Brian Gladden told MarketWatch. "That's been part of our business that's been growing double-digits," he said, adding, "The PC business is in a tough environment." But Gladden said the company expects to see "good growth" in its enterprise business in the second half. Dell shares were down more than 3% after the company also cut its full-year forecast.

La-Z-Boy profit falls on loss of year-ago gain

(4:33 PM ET) SAN FRANCISCO (MarketWatch) -- La-Z-Boy Inc.
LZB, +0.08%
reported late Tuesday its fiscal 2013 first-quarter profit fell to $4.7 million, or 8 cents a share, from $45.9 million, or 85 cents a share, a year ago. The year-ago results included a one-time gain of 81 cents a share. Revenue for the quarter ended July 28 rose 7.6% to $301.5 million from $280.1 million, with same-store sales up 9.2%. Analysts surveyed by FactSet had predicted the Monroe, Mich.-based furniture maker would earn 8 cents a share on $290.5 million in revenue. La-Z-Boy shares closed at $13.50, an 88% advance over the past 12 months.

Dell profit falls on lower sales, shares down

(4:11 PM ET) SAN FRANCISCO (MarketWatch) - Dell Inc.
DELL
on Tuesday reported a fiscal second-quarter profit of $732 million, or 42 cents a share, compared with a profit of $890 million, or 48 cents a share, for the year-earlier period. Revenue was $14.5 billion, down from $15.7 billion. Adjusted profit was 50 cents a share. Analysts were expecting the Round Rock, Texas-based technology company to report a profit of 45 cents a share, on revenue of $14.7 billion, according to a consensus survey by FactSet. For the current quarter, Dell said it expects revenue to be down 2% to 5% from the second quarter. The company also said it is revising its full-year adjusted earnings outlook to at least $1.70 a share. Analysts were expecting a full-year profit of $1.90 a share, according to data from FactSet. Dell shares were down about 4% in after-hours trading.

Church & Dwight gains on deal, profit outlook

(10:22 AM ET) SAN FRANCISCO (MarketWatch) -- Shares of Arm & Hammer maker Church & Dwight
CHD, -0.52%
gained 4% to $55.25 Tuesday morning following its deal to buy Avid Health for $650 million. In announcing the deal late Monday, Church & Dwight issued a fiscal 2013 profit forecast of $2.73 to $2.78 a share. Analysts were expecting $2.68 a share for next year, according to FactSet. Church & Dwight said Avid Health, maker of gummy vitamins for adults and kids, will add to the company's profit and free cash flow next year. Church & Dwight shares are up 20% since Jan. 1, outpacing the 13% gain for the S&P 500.

Urban Outfitters shares jump on earnings beat

(10:15 AM ET) SAN FRANCISCO (MarketWatch) -- Urban Outfitters Inc.
URBN, -1.15%
stock hit a 52-week high in early trade Tuesday to $37.65 a share. The share price move helped the retailer dominate the S&P 500 Index
SPX, -0.23%
The Philadelphia-based retailer, which also operates the Anthropologie and Free People brands in addition to its namesake store, said Monday its fiscal second-quarter earnings rose 8.1% and revenue increased 11%, beating analyst estimates. Same-store sales jumped for Urban Outfitters and Free People, but were flat for Anthropologie. The share price is up 39% from a year ago and 31% since January. The stock is currently up 16% at $36.29 a share.

Best Buy shares extend losses on earnings report

(10:00 AM ET) SAN FRANCISCO (MarketWatch) -- Best Buy
BBY, +0.53%
shares faced heavy selling pressure for a second consecutive day, sliding 6% to $16.98 Tuesday morning to led S&P 500
SPX, -0.23%
decliners. The consumer electronics retailer missed Wall Street's adjusted profit forecast by 11 cents a share for the second quarter. Best Buy also suspended its outlook and its share repurchase program. In a statement, the company said it isn't providing a forecast due to the "uncertainty associated with several key product launches" later this year as well as the appointment of new chief executive Hubert Joly. Best Buy expects to generate free cash flow of $1.25 billion to $1.5 billion this fiscal year. Best Buy shares are now down 17% since Aug. 17, also hit by a breakdown in negotiations with its founder Richard Schulze who is seeking to buy the retailer.

Barnes & Noble narrows loss, shares up 5%

(8:52 AM ET) NEW YORK (MarketWatch) -- Barnes & Noble Inc.
BBY, +0.53%
said Tuesday its first-quarter loss narrowed to $41 million, or 78 cents a share, from a loss of $56.6 million, or 99 cents a share, in the year-ago period. Revenue at the book retailer rose 2.5% to $1.45 billion. The company said its results were boosted by consolidation in the market as well as strong sales of the Fifty Shades series. Wall Street analysts expected the New York company to lose 94 cents a share, according to a survey by FactSet. Sales of the company's Nook unit remained flat from the year-ago level at $192 million. Prices of the Nook device fell, while digital content sales increased by 46%. The company said its Glowlight product is seeing unmet demand due to production scaling issues. Shares of Barnes & Noble rose 5% in premarket trades.

Best Buy drops 9% after earnings fall short

(8:18 AM ET) NEW YORK (MarketWatch) -- Best Buy Co.
BBY, +0.53%
dropped 9% in premarket trades on Tuesday after the electronics retailer's earnings missed Wall Street estimates. The Minneapolis store chain's second-quarter profit dropped 87% to $33 million, or 4 cents a share, from $260 million, or 39 cents a share, in the year-ago period. Adjusted profit dropped to 20 cents a share from 39 cents a share. Revenue fell 3% to $10.55 billion. Wall Street analysts expected Best Buy to earn 31 cents a share on revenue of $10.65 billion, according to a survey by FactSet. The earnings miss comes a day after Best Buy named Hubert Joly as its new chief executive. He is expected to join the company in early September. Best Buy declined to provide detailed profit forecasts for 2013, but said it expects to generate free cash flow in the range of $1.25 billion to $1.5 billion.

Nike charging $315 for new LeBron James sneaker

(8:00 AM ET) NEW YORK (MarketWatch) -- Nike Inc.
NKE, +0.18%
will charge about $315 for a pair of their new LeBron X basketball sneakers as part of an overall price hike for its athletic shoes, The Wall Street Journal reported on Tuesday. Overall, Nike will raise shoe and clothing prices by 5% to 10% in the face of increased costs for labor, materials and shipping, the newspaper reported, citing analysts. The new LeBron X shoe, named after LeBron James, who led the Miami Heat to win the NBA title in June, will feature motion sensors that measure how high the wearer jumps, the newspaper said. Currently, the LeBron 9 PS Elite basketball shoe sells at retail for $250.

DSW profit falls, adjusted income beats estimate

(7:22 AM ET) NEW YORK (MarketWatch) -- DSW Inc.
DSW, -0.18%
said Tuesday its second-quarter profit fell to $29.3 million, or 65 cents a share, from $139.9 million, or $3.96 a share, in the year-ago period. Adjusted profit dipped to 66 cents a share from 74 cents a share, after breaking out one-time items related to the company's merger with RVI and other factors. Sales at the Columbus, Ohio, shoe retailer rose 7.5% to $512.2 million. Wall Street analysts expected DSW to earn 62 cents a share on sales of $511.2 million, according to a survey by FactSet Research. DSW said it continues to expect full-year earnings of $3.25 to $3.40 a share, compared to the analyst target of $3.28 a share.

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